Cirmaker Completes Initial Shipment of 146,000 Digital Set Top Boxes to Mainland China and Taiwan Marketplace Worth Approximately $4.0 Million (USD)
Cirmaker Completes Initial Shipment of 146,000 Digital Set Top Boxes to Mainland China and Taiwan Marketplace Worth Approximately $4.0 Million (USD) Company Announces Marketing Initiative to Introduce and Expand Product Offerings in North America NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- Cirmaker Technology Corp. (BULLETIN BOARD: CRKT.OB) , http://www.cirmaker.com.tw/, which manufactures set top boxes (STB's) for digital TV signal reception, LCD flat screens for televisions and PC's, CPU coolers for computers and electronic components, today announced that it has shipped 146,000 set top boxes, worth approximately $4.0 million (USD) to Mainland China and Taiwan. This delivery of product is in conjunction with the initial order announced on September 22, 2004, for two hundred and forty thousand digital set top boxes worth $6,669,600 million (USD) and the subsequent announcement of its digital set top box entry into the Taiwan market. These set top boxes, also known as digital receivers, receive TV signals directly from satellites and do not require a cable connection. The units have been produced by the Company's (66%) owned subsidiary, Shaanxi New Century Electronic Co., Ltd, in the Company's mainland facility. Bill Liao, Chief Executive Officer and President of Cirmaker Technology commented, "We are pleased to announce that we have completed a shipment of 146,000 set top boxes. This is a significant step forward for the company. We experienced a great demand for our set top boxes from the Mainland China and Taiwan marketplace and have begun to successfully ship the product." He continued, "The digital set top box market is expected to grow rapidly over the next few years and we foresee our role in the industry to be an important one. We are producing a highly reliable and technologically advanced satellite set top boxes. We have the facilities to increase production, based on future anticipated orders. We are aggressively pursing new orders through our exposure at trade shows and our dedicated sales force." Cirmaker also announced today that it has retained Ross Huguet, Inc. to introduce and expand its product offerings through marketing efforts in North America. Initially, Ross Huguet's focus will be to build Cirmaker's brand awareness in North America. Secondly, the Company will introduce and market Cirmaker's LCD Televisions to major retailers, both the traditional retail stores and through direct-to-consumer marketing campaigns. Ross Huguet's experience ranges from consumer fast food chain marketing (McDonald's) to electronic retail chain / catalogues (Crutchfield). Commenting on this, Bill Liao said, "We are pleased to be working with Ross Huguet, Inc. to increase Cirmaker's presence and consumer awareness, eventually leading to sales in North America. They have a great deal of expertise in marketing products to consumers, and building brand awareness. We will initially work with them on creating the demand for Cirmaker's LCD Televisions, while developing additional consumer product offerings." About Cirmaker Technology Corp. Headquartered in Taiwan with offices in New York City, London, Beijing, and Guangdong province, Cirmaker Technology Corp. manufactures cooling systems for laptop and personal computers, LCD flat screen for PC's and TV's, electrical and electronic components and 3G MHP (3rd generation multimedia home platform) digital set top boxes for television sets. Cirmaker has developed set top boxes that convert digital television broadcast signals into analog formats so that analog TV sets can receive digital programming. The system also receives, processes, stores and broadcasts analog, digital and streaming media signals, and supports pay-per-view and video-on-demand functions. Cirmaker believes it is the only 3G MHP STB manufacturer operating in China able to produce in volume a device that meets all the required standards of Chinese broadcasting authorities. It also complies with all international HDTV standards for high definition television. The Company's subsidiary, Shaanxi New Century Electronic Co., produces a new generation satellite set top box that converts digital television broadcast signals into analog formats so that analog TV sets can receive digital programming. This device meets all the required standards of Chinese broadcasting authorities. Because the Chinese government plans to change all TV broadcast signals from analog to digital, there is a significant demand in Mainland China for this product. For further information on Cirmaker Technology Corp., please visit http://www.cirmaker.com.tw/ Forward-Looking Statements The matters discussed in this news release contain forward-looking statements, including statements regarding the demand for set top box satellite receivers in China, future sales made by Cirmaker in China, and the potential success of the strategic alliance between Shaanxi Ruyi Electric Co. and Cirmaker. These statements are subject to various risks, uncertainties and other factors that could cause actual results to vary materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include Cirmaker's potential inability to raise additional capital, the potential breach by the counterparty to the sales agreement of its obligations to buy satellite receivers thereunder, Cirmaker's potential inability to compete with other companies that may be more experienced and better capitalized than Cirmaker, changes in domestic and foreign laws, regulations and taxes, changes in economic conditions, uncertainties related to the legal systems in Cirmaker's target markets, including, China's legal system and economic, political and social events in China and other target markets, foreign relations between Taiwan, China and Cirmaker's other potential target markets, a general economic downturn, a downturn in the securities markets, Securities and Exchange Commission regulations which affect trading in the securities of "penny stocks," and other risks and uncertainties detailed from time to time in Cirmaker's filings with the Securities and Exchange Commission. These forward-looking statements represent management's judgment as of the date of this release. Cirmaker disclaims any intent or obligation to update these forward-looking statements. You may register to receive Cirmaker's future press releases and to be added to the Company's distribution list by visiting: http://www.roiny.com/form.php. Company Contact: Investor Relations Contact: Cirmaker Technology Corporation ROI Group Associates, Inc. Charles R. Skeele Sarah Shepard / Vice President General Manager Telephone: 212-495-0200, ext. 17 Telephone: 917-639-4098 Email: sshepard@roiny.com Email: cskeele@cirmaker.com.twhttp://www.roiny.com/ Source: Cirmaker Technology Corp. CONTACT: Charles R. Skeele, General Manager of Cirmaker Technology Corporation, +1-917-639-4098, cskeele@cirmaker.com.tw; or Investor Relations - Sarah Shepard, Vice President of ROI Group Associates, Inc., +1-212-495-0200, ext. 17, sshepard@roiny.com Web site: http://www.cirmaker.com.tw/ ------- Profile: International Entertainment
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